Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    48,852 SF Church and School Title is generated by Realmo AI

    400 Center Rd, Bedford, OH 44146

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Church and school building with rectory on 11.89 acres.

    Type:Special Purpose
    Property size:
    48,852 SF
    Lot size:
    11.89 Acres
    Price / SF:
    $28/SF
    Added:
    Mar 5, 2026
    Days on Market:
    72
    Last Refresh:
    Mar 16 at 2:38 pm

    Property Features for 400 Center Rd

    General Information

    Standard status
    Active
    Size
    48,852 SF
    Lot size
    11.89 Acres
    Property subtype
    Special Purpose

    Building Details

    Year Built
    1954

    We can help!

    Listing Contact
    Jonathan Elson
    Jonathan Elson

    Listing agent Jonathan Elson License #SAL.2014005318

    Listing office Allegro Real Estate Brokers & Advisors

    Listing date Mar 5, 2026

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Allegro Real Estate Brokers & Advisors

    HighLights

    • Expansive 11.89‑acre site offering abundant outdoor space
    • Boasting 48,852 SF of total building area
    • Excellent redevelopment flexibility
    • Church/school building and separate rectory building included
    • Multiple access points
    • Year Built: 1954

    Overview

    This property features a total building area of 48,852 square feet, encompassing a church/school building and a separate rectory building. The expansive 11.89-acre site provides abundant outdoor space and multiple access points. It offers redevelopment flexibility.
    Location Intelligence

    Current Use by Public Records

    Churches & religious facilities

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bedford
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5301
    Latitude
    41.3816

    Nearby Similar for Sale

    • $615,000

      Retail Investment Opportunity in Bedford, OH

      Well-maintained retail property with strong income potential in prime location.
      401-403,405 Broadway Avenue, Bedford, OH 44146
      View Details
    • $615,000
      4,648 SF

      Prime Retail Investment Opportunity

      High-traffic location with three retail units and ample parking.
      401-403,405 Broadway Avenue Bedford, OH 44146
      View Details
    • $1,872,711
      35,904 SF

      Manufacturing Space with Heavy Power

      35,904 SF manufacturing space near Downtown Bedford and I-271.
      205 Willis St, Bedford , OH
      View Details
    • $2,500,000
      15,288 SF

      Renovated Industrial Space Available

      Renovated industrial space with flexible lease terms and freeway access.
      26235 Cannon Rd, Bedford, OH
      View Details
    • $2,500,000
      18,961 SF

      Bedford Office Building For Sale

      Well-maintained 18,961 SF office building in Bedford, Ohio.
      3-4 Hemisphere Way, Bedford, OH
      View Details
    • $1,985,000

      Auto Dealership on Auto Mile

      Fully equipped dealership on Bedford's premier auto sales corridor.
      424 Broadway Avenue, Bedford, OH
      View Details
    • $1,279,955
      8,320 SF

      Dollar Store Portfolio Opportunity

      Part of an 8-unit portfolio in a vibrant area.
      25880 Broadway Ave, Bedford, OH 44146
      View Details
    • $775,000
      14,837 SF

      Bowling Alley with Income Potential

      Fully equipped bowling alley with apartments and retail space.
      954 Broadway Ave, Bedford, OH 44146
      View Details
    • $700,000
      1,974 SF

      Restaurant Outparcel Near Major Retailers

      1.55 AC restaurant outparcel available for sale, lease, or ground lease.
      23840 Broadway Ave, Bedford, OH 44146
      View Details
    • $399,900

      Turnkey Duplex Package Investment

      Two fully rented, recently remodeled duplexes with strong cap rates.
      244 Center Rd, Bedford, OH 44146
      View Details
    • $2,615,385
      1,662 SF

      Retail Space For Sale

      Retail space available, 1,662 SqFt, 6.50% CAP rate.
      23181 Broadway Ave, Bedford, OH 44146
      View Details
    • $349,000
      51,231 SF

      Bedford Industrial Facility: Value-Add Opportunity

      51,231 SF industrial facility in Bedford, OH for sale.
      33 Industry Dr, Bedford, OH
      View Details

    FAQs

    What type of property is this?
    Church & religious facility - Church and school building with rectory on 11.89 acres.
    Where is this church & religious facility located?
    The property is located at 400 Center Rd Bedford, OH.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Expansive 11.89‑acre site offering abundant outdoor space; Boasting 48,852 SF of total building area; Excellent redevelopment flexibility
    (216) 609-0303 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jonathan Elson
    Jonathan Elson
    Real Estate License ID: SAL.2014005318
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    400 Center Rd, Bedford, OH 44146
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!